Mandatory Repayment on Certain Date Clause Samples
The "Mandatory Repayment on Certain Date" clause requires a borrower to repay the outstanding loan balance in full by a specified date, regardless of other circumstances. This clause typically applies to loans or credit agreements, where the lender sets a clear deadline for repayment, such as the maturity date of the loan. Its core practical function is to provide certainty and enforceability regarding when the lender will receive full repayment, thereby reducing the risk of indefinite or delayed repayment.
Mandatory Repayment on Certain Date. The Borrower shall repay the outstanding principal amount of each Advance on the Commitment Termination Date.
Mandatory Repayment on Certain Date. The Borrower shall repay the outstanding principal amount of (i) each Committed Advance made by each Lender on the Termination Date of such Lender, and (ii) each Bid Advance at the maturity date specified in the Notice of Bid Borrowing.
Mandatory Repayment on Certain Date. The Borrower shall repay the outstanding principal amount of each Advance (other than the Advances comprising the Term Loan) as follows: (i) for each Committed Advance made by each Lender on the Termination Date of such Lender, and (ii) for each Bid Advance at the maturity date specified in the Notice of Bid Borrowing.